10x Genomics (NASDAQ:TXG) Receives Consensus Recommendation of “Hold” from Analysts

Shares of 10x Genomics (NASDAQ:TXG) have been assigned an average recommendation of “Hold” from the sixteen analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $18.4643.

A number of equities research analysts have recently issued reports on TXG shares. Deutsche Bank Aktiengesellschaft set a $17.00 price target on shares of 10x Genomics and gave the company a “hold” rating in a research note on Friday, February 13th. Leerink Partners dropped their target price on shares of 10x Genomics from $22.00 to $20.00 and set a “market perform” rating for the company in a report on Tuesday, January 27th. Barclays boosted their target price on 10x Genomics from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Bank of America set a $21.00 price target on 10x Genomics in a research note on Monday, January 12th. Finally, Morgan Stanley restated an “equal weight” rating and set a $20.00 price target (up from $17.00) on shares of 10x Genomics in a research report on Monday, December 1st.

10x Genomics Trading Up 5.6%

NASDAQ TXG opened at $20.91 on Thursday. The stock has a market cap of $2.67 billion, a PE ratio of -59.74 and a beta of 2.20. 10x Genomics has a twelve month low of $6.78 and a twelve month high of $23.56. The stock has a fifty day simple moving average of $20.04 and a 200-day simple moving average of $16.86.

10x Genomics (NASDAQ:TXG) last announced its earnings results on Thursday, February 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.06. 10x Genomics had a negative net margin of 6.77% and a negative return on equity of 6.89%. The company had revenue of $166.03 million during the quarter, compared to analyst estimates of $160.35 million. During the same quarter last year, the firm posted ($0.40) earnings per share. 10x Genomics’s revenue was up .6% compared to the same quarter last year. Research analysts predict that 10x Genomics will post -1.43 EPS for the current year.

Insider Buying and Selling

In other 10x Genomics news, CEO Serge Saxonov sold 10,000 shares of the business’s stock in a transaction dated Monday, March 23rd. The shares were sold at an average price of $19.13, for a total transaction of $191,300.00. Following the sale, the chief executive officer directly owned 1,177,273 shares in the company, valued at $22,521,232.49. This represents a 0.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin J. Hindson sold 7,826 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $18.58, for a total transaction of $145,407.08. Following the sale, the insider directly owned 424,779 shares in the company, valued at $7,892,393.82. This represents a 1.81% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 41,426 shares of company stock valued at $779,895. Corporate insiders own 9.39% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. acquired a new stake in 10x Genomics during the 4th quarter worth approximately $38,000. Larson Financial Group LLC boosted its position in 10x Genomics by 164.4% in the 4th quarter. Larson Financial Group LLC now owns 2,364 shares of the company’s stock valued at $39,000 after buying an additional 1,470 shares during the period. Van ECK Associates Corp grew its stake in shares of 10x Genomics by 85.9% in the fourth quarter. Van ECK Associates Corp now owns 3,668 shares of the company’s stock worth $60,000 after acquiring an additional 1,695 shares in the last quarter. True Wealth Design LLC grew its stake in shares of 10x Genomics by 26.4% in the third quarter. True Wealth Design LLC now owns 4,534 shares of the company’s stock worth $53,000 after acquiring an additional 948 shares in the last quarter. Finally, Abich Financial Wealth Management LLC purchased a new stake in shares of 10x Genomics during the third quarter worth $56,000. Institutional investors and hedge funds own 84.68% of the company’s stock.

About 10x Genomics

10x Genomics, Inc is a biotechnology company specializing in advanced genomic analysis solutions that enable researchers to explore biology at unprecedented resolution. The company develops and manufactures integrated hardware, consumables and software products for single-cell sequencing and spatial genomics. Its flagship Chromium product line supports applications in single-cell RNA sequencing, immune profiling and genome assembly, while the Visium and Xenium platforms offer spatial transcriptomics and in situ analysis, respectively.

Founded in 2012 and headquartered in Pleasanton, California, 10x Genomics serves a global customer base that includes academic institutions, pharmaceutical and biotechnology companies, and government research organizations.